A conveyancer specialises on the legal aspects of buying and selling real estate property. According to research, around 12,000 businesses undertake conveyancing work in Australia. Between 2016 and 2017, 1.5 million conveyancing transactions were completed across Australia. New South
Wales, Victoria, and Queensland recorded the majority of these transactions.
Whether or not you are a first-time buyer or seller, hiring a conveyancer, especially a local one, will definitely bring you to the right direction. Below are the four reasons why you need a local conveyancer:
A local conveyancer is definitely more convenient to have whenever you need to discuss property matters. Remember that you are in the process of dealing with one of the most significant decisions of your life. Hence, meeting in person will benefit both of you to talk about things in a thorough and fuss-free manner, without having to limit your time with each other. The 30 minutes spent on traffic can be used for a detailed discussion instead.
Credit Capital home loan expert, Alistaire Claire, advises sellers and buyers to work with licensed conveyancers. “Of course, one of the things you need to consider on a potential property is its background information”.
Researching before committing to something is the number one step you
need to take. That’s exactly why a local conveyancer is truly helpful. They can research for you.
They are familiar with the local codes. They understand the local market. Their local expertise will help you come up with the best price or determine if you’re making a smart investment.”, he said.
Buying or selling a property can be exhausting—physically, mentally, and financially. It needs thorough research to be sure you’re getting your money’s worth. While you’re busy calculating, the seller might deal with another buyer who can produce the amount faster. This can be frustrating, especially if you spent a lot of time finding that perfect property.
A local conveyancer can help you find a suitable mortgage lender and may help you in expediting the application process. They can also advise you what to do to increase your chances of being approved.
Undoubtedly the most important of them all. A conveyancer knows all the legal steps that should be taken when buying or selling a property in Australia. These include complex matters such as deeds and taxes. Below are some of the legal work they do:
- Liaise the seller’s solicitor to receive a contract pack.
- Request and obtain a copy of your mortgage offer.
- Carry out necessary local authority searches about the property.
- Analyse the result of the local authority searches.
- Arrange potential completion data with both parties.
- Swap signed contracts with the seller’s own conveyancer.
- Prepare the completion statement and transfer deeds for you to complete.
- Transfer the signed transfer deeds to the seller conveyancer.
- Request payment of the mortgage in advance from your lender.
- Transfer the balance of purchase price (less the deposit already paid) to the seller’s conveyancer
- Submit and pay the required stamp duty
- Forward documentation regarding the transfer of ownership to the Land Registry.
- Forward the title deed to your mortgage lender.
Buying or selling a real estate property is a complex transaction. Avoid mistakes that could get you into trouble by hiring a local conveyancer from the Drake Group. Contact us now for quality and affordable services!